The link to Western ratings has been officially canceled when Russia issues loans to other countries
Russia has officially canceled the link to the indicators of Western rating agencies when issuing loans to other countries, RIA Novosti reports with reference to a document published on the official portal of legal acts.
The decision reportedly concerns, among other things, the ratings of the Organization for Economic Cooperation and Development (OECD).
Thus, after the decision comes into force, they can apply for loans from Russia countries from the sixth and lower country credit risk groups. Also, this opportunity will be given to countries with low ratings from Fitch, Standard & Poor's and Moody's Investors Service.
The document also allows for the issuance of loans to states that have an average cost of sovereign credit default swaps in US dollars over the previous three months for a period 10 years exceeds 800 basis points. Thus, in Russia they will ignore the recommendations of Western organizations.